Mathematicians, statisticians and actuaries

Mathematicians, statisticians and actuaries

NOC
2161

Research mathematical or statistical theories and develop techniques for solving problems in many fields. Actuaries use statistics and probability to assess risk – primarily for insurance companies.

Quick facts

3 Year Outlook

Undetermined
Undetermined

3 Year Job Openings

9
 

Median Hourly Wage

$43.82
$26.67
Low
$70.67
High

Median Salary

$64,957
 

Typically Required

University

Employed

167
 

% Working Full Time

94%
 

% Working Full Year

84%
 
Job details

Full NOC Description

Mathematicians and statisticians research mathematical or statistical theories, and develop and apply mathematical or statistical techniques for solving problems in such fields as science, engineering, business and social science. Actuaries apply mathematics, statistics, probability and risk theory to assess potential financial impacts of future events.

Main Duties

Mathematicians, statisticians and actuaries perform some or all of the following duties:
Mathematicians

  • Conduct research to extend mathematical knowledge in traditional areas of mathematics such as algebra, geometry, probability and logic
  • Apply mathematical techniques to the solution of problems in scientific fields such as physical science, engineering, computer science or other fields such as operations research, business or management.

Statisticians

  • Conduct research into the mathematical basis of the science of statistics
  • Develop statistical methodology and advise on the practical application of statistical methodology
  • Apply statistical theory and methods to provide information in scientific and other fields such as biological and agricultural science, business and economics, physical sciences and engineering, and the social sciences.

Actuaries

  • Apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits
  • Design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans
  • May assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Also Known As

  • actuary
  • biostatistician
  • consulting actuary
  • demographer
  • insurance actuary
  • mathematician
  • statistical analyst
  • statistician
Requirements

Employment Requirements

  • Mathematicians and statisticians usually require a graduate degree in mathematics or statistics.
  • Actuaries usually require post-secondary education in actuarial science, mathematics, statistics, economics, commerce or business administration.
  • Actuaries are conferred fellowships through the Canadian Institute of Actuaries upon successful completion of professional examinations and Three years of work experience in the actuarial field as an actuarial assistant or in a related position.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

40.6%
Female
59.4%
Male
Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

9.1%
15-24
21.2%
25-34
45.5%
35-44
12.1%
45-54
6.1%
55-64
6.1%
65+
Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.0%
No Certificate, Diploma or Degree
0.0%
High School, Diploma or Equivalent
0.0%
Apprenticeship or Trades Certificate or Diploma
16.7%
College or University Below Bachelor Level
83.3%
University - Bachelor Level or Above
Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

50.0%
Finance and insurance
20.0%
Professional, scientific and technical services
10.0%
Educational services
20.0%
All Other Industries
Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

12.50%
Northeast
53.10%
Southeast
12.50%
Southwest
21.90%
Central
0.00%
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Median Salary by Economic Regions

The following graph shows the median salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

N/A
Northeast
$65,375
Southeast
N/A
Southwest
$77,190
Central
N/A
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

No Data Available

Southeast

$43.82
$26.67
Low
$70.67
High
No Data Available
No Data Available
No Data Available
Salary

This following represents the median salary of all persons employed in this occupation compared to the median salary of workers employed in this occupation that work full-time year-round.

All Workers Employed in this Occupation

$64,957

Workers Employed Full-time, Full-year

$75,296

This following represents the median salary of persons employed in this occupation across each of the Atlantic Provinces and nationally.

New Brunswick

$64,957

Newfoundland

$62,144

Prince Edward Island

N/A

Nova Scotia

$72,269

Canada

$77,230
Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Three Year Outlook

Total Openings: 3 Year

9
 

New Jobs: 3 Year

0
 

Retirements/Deaths: 3 Year

8
 

Ten Year Outlook

Total Openings: 10 Year

33
 

New Jobs: 10 Year

2
 

Retirements/Deaths: 10 Year

29